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FYI, see Devon's comments on FoF below and his priorities.

I also told Neil that we would discuss approach on FoF next week and that you were following up with MXL directly and that we should wait on a meeting in DC/NY until you and MXL had talked. Think we are all good. Of course if we can get to 10 clients we find someone else to manage it and still make good money.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
P Consider the environment before printing this email.

Begin forwarded message:

From: darcher@rosemontseneca.com
Date: September 1, 2010 6:48:13 PM EDT
To: "Neil Callahan" <ncallahan@rosemontseneca.com>,"Eric D. Schwerin" <eschwerin@rosemontseneca.com>
Subject: Re: Firm Management Call
Reply-To: darcher@rosemontseneca.com

If Arlene can manage the FoFs I'm all for it. I can be very supportive as well. I cannot make it a top 3 priority for me individually:

1. Analytics
2. Co-Invest & PE SPVs current and future
3. Real Estate

4. Etc.
Sent via BlackBerry by AT&T

From: ncallahan@rosemontseneca.com
Date: Wed, 1 Sep 2010 22:41:38 +0000
To: Devon Archer<darcher@rosemontseneca.com>; Eric Schwerin<eschwerin@rosemontseneca.com>
ReplyTo: ncallahan@rosemontseneca.com
Subject: Re: Firm Management Call

Cool - what do you think of the FoF plan . . .
Sent from my Verizon Wireless BlackBerry

From: darcher@rosemontseneca.com
Date: Wed, 1 Sep 2010 22:40:30 +0000
To: Neil Callahan<ncallahan@rosemontseneca.com>; Eric D. Schwerin<eschwerin@rosemontseneca.com>
ReplyTo: darcher@rosemontseneca.com
Subject: Re: Firm Management Call

Fantasy Football
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From: ncallahan@rosemontseneca.com
Date: Wed, 1 Sep 2010 22:39:45 +0000
To: Devon Archer<darcher@rosemontseneca.com>; Eric Schwerin<eschwerin@rosemontseneca.com>
ReplyTo: ncallahan@rosemontseneca.com
Subject: Re: Firm Management Call

Hey guys,

What's the RSP FF meeting?

If that is Fund of Funds here is the latest as I know it;

as per Eric's advice, I've teed up Marc L to come to DC mid/late Sept to review the Fund of Funds concept with us and all the components and to help facilitate through our options and to arrive at the products/venture that we agree on.

Seems like the current FoF product structure is not supported, thus we need to decide to close out or modify the product design and then decide a path forward if any.

I was planning on looping Arlene into this mix post Labor Day with Marc to prep for the session and then put in on your calendars plus CDH RHB.

Does this still make sense?

Let me know.

Best,

Neil
Sent from my Verizon Wireless BlackBerry

From: darcher@rosemontseneca.com
Date: Wed, 1 Sep 2010 22:01:37 +0000
To: Eric D. Schwerin<eschwerin@rosemontseneca.com>; Hunter Biden<hbiden@rosemontseneca.com>; Neil Callahan<ncallahan@rosemontseneca.com>; Chris Heinz<cheinz@rosemontseneca.com>
ReplyTo: darcher@rosemontseneca.com
Cc: Anne Marie Person<amperson@rosemontseneca.com>
Subject: Re: Firm Management Call

Later in the day is better. We have our LP quarterly call Wednesday at noon and the RSP FF draft at 3pm.
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From: Eric Schwerin <eschwerin@rosemontseneca.com>
Date: Wed, 1 Sep 2010 17:58:54 -0400
To: Hunter Biden<hbiden@rosemontseneca.com>; darcher@rosemontseneca.com Archer<darcher@rosemontseneca.com>; Neil Callahan<ncallahan@rosemontseneca.com>; Chris Heinz<cheinz@rosemontseneca.com>
Cc: Anne Marie Person<amperson@rosemontseneca.com>
Subject: Firm Management Call

Can we re-schedule our firm management call for Wednesday the 8th this week? Monday is Labor Day and I think Hunter and Chris can't do Tuesday. Since we haven't had one for a number of weeks because of vacations, etc., I think it'd be good to do one next week if we can.

I think 2 or 3 works on our end.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
P Consider the environment before printing this email.